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Custody services

We safeguard assets and provide comprehensive portfolio administration for sophisticated investors seeking to consolidate accounts and simplify recordkeeping.

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Business man and business woman looking out of the window

The safekeeping and administration of your investments are essential – but often overlooked – elements of protecting and growing wealth over time.

In addition to holding your marketable securities and cash securely, a robust custodian performs various other vital functions.

These include settling your transactions efficiently, execution on foreign exchange, collecting dividends, interest and other income, serving as your proxy for shareholder votes, and providing transparency into your wealth.

With $23.7 trillion in assets under custody and administration1 and a global custody network spanning more than a hundred markets worldwide, Citi is one of the largest custodians in the world.

As a client of the Private Bank, you benefit from access to Citi’s institutional capabilities, delivered with personalized service from your dedicated team.

 

Our extensive resources, local expertise, and global coverage enable us to assist you with the requirements of increasingly multijurisdictional investments.

Our custody services aim to give you not only peace of mind, but also comprehensive and consolidated insights into your holdings at any given time.

As a global custodian, we offer clients centralized portfolio administration, consolidated reporting, dedicated client service and the safety benefits of holding assets in bank custody.

Murtuza Rasiwala
Head of Banking, Custody, Escrow and MSBF - Americas
How we serve you
Comprehensive services
Our custody specialists work closely with you and your advisors to provide tailored solutions for your needs.

We can provide securities processing and trade settlement, while allowing you to work with your preferred third-party portfolio managers and brokers for trade execution and advice.

To help simplify administration, we offer liquidity management, asset pricing and valuation, notification of corporate actions, gift processing, income collection, remittances and transition plan support.

Safety of assets
In our custody, your assets are fully segregated from the assets of Citi.

You remain the beneficial owner of your assets and do not become a creditor of the bank.

Your securities will never be lent out (“hypothecated”).

In the unlikely event of Citi suffering financial distress, your assets would be allocated to you as the beneficial owner.

Insight into your wealth
We can hold your assets in custody with Citi, as well as all your assets from other relationships worldwide.

We can provide a transparent, consolidated view of your global holdings, convenient online access to account information through our digital banking platform, and comprehensive portfolio analysis and advice.

This not only simplifies your portfolio administration, but provides you real-time insights into your wealth.

Equipped with more information, you can make clearer and better decisions, acting on opportunities and mitigating risks.

Your questions

There are important differences between the two solutions, especially in relation to asset safety, cost, client service and data.

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The safety of your assets can be impacted by the type of custody relationship under which they are held.

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It’s essential to assess your reporting requirements when evaluating what a custodian can offer.

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A custodian with the right resources, expertise, and coverage to help with multijurisdictional investments is crucial.

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Meet our people

Murtuza Rasiwala caricature
Murtuza Rasiwala
Head of Banking, Custody, Escrow & MSBF
Americas
“Our dedicated team is experienced in structuring bespoke strategies to provide clients liquidity using their financial assets as collateral”

Murtuza leads a team of banking, custody, escrow and margin and securities backed lending professionals, who work with clients in North America and Latin America to address their financing, liquidity, safeguarding, portfolio administration, and risk mitigation needs.

Murtuza has over 15 years of private banking and margin lending experience. Previously, he was the Global Head of Margin and Securities Backed Lending at Citi Private Bank. Earlier in his career, he was a member of the Private Bank Investment Finance team for nine years, based in Asia. 

Murtuza holds an MBA in finance and the Chartered Financial Analyst and Financial Risk Manager designations.

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Murtuza Rasiwala caricature
Murtuza Rasiwala
Head of Banking, Custody, Escrow & MSBF
Americas

Murtuza leads a team of banking, custody, escrow and margin and securities backed lending professionals, who work with clients in North America and Latin America to address their financing, liquidity, safeguarding, portfolio administration, and risk mitigation needs.

Murtuza has over 15 years of private banking and margin lending experience. Previously, he was the Global Head of Margin and Securities Backed Lending at Citi Private Bank. Earlier in his career, he was a member of the Private Bank Investment Finance team for nine years, based in Asia. 

Murtuza holds an MBA in finance and the Chartered Financial Analyst and Financial Risk Manager designations.

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Mike Grippo caricature
Michael Grippo
Head of Custody Sales
Americas

Michael leads a team of custody sales professionals who provide asset safeguarding in custody and reporting solutions to clients in North America and Latin America, including ultra-high net worth individuals and families, multi-family offices, registered investment advisors and institutional clients, such as hedge funds and private equity firms.

Before joining Citi Private Bank, Michael spent 10 years as Executive Director and Head of J.P. Morgan Private Bank’s Americas Custody business. Prior to this tenure, Michael was a Managing Director with Modern Bank and served as First Vice President, Regional Manager, and Head of Global Custody Sales at HSBC Private Bank. Earlier in his career, Michael was Vice President and Section Manager of Custody Services at U.S. Trust. He began his career in financial services with Fiduciary Trust Company International.

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Samba Nandakumar caricature
Sambamoorthy Nandakumar
Head of Cash and Custody Solutions
Europe, Middle East & Africa

Based in London, Samba leads our cash and custody solution teams in the region, helping clients to make use of their short-term liquidity and ensuring the safekeeping of their investments.

He is also the Global Chief Administrative Officer for Cash and Liquidity Solutions. Previously, he served as Chief Financial Officer for Citi Private Bank in EMEA and as Technology Director for Citi’s International Personal Bank.

Samba qualified as a Chartered Accountant and a Cost & Management Accountant.

Resources

Global citizens

The Private Bank exists to serve a very special community. Hear the stories of global citizens in their own words.

Alan Faena leaning against wallclose icon
Global Citizens
Experience creator
ALAN FAENA

“Giving new life to a city is one of the most beautiful things that anyone can do,” says Alan Faena, as he looks out on the Miami neighbourhood that now bears his name. “It’s one of the things I’m most proud of, both here and back home in Buenos Aires. These are my gifts to the people, not only for today’s generation but also for future generations.” And what a gift the Faena District is indeed.

Spanning five blocks adjacent to the white sands of Miami Beach, the neighborhood is nothing less than an urban oasis of sensory delights. Its buildings – old and new – somehow fuse perfectly with their natural surroundings. Absolutely nothing is mundane here, not even the multistory parking garage, whose exterior could easily pass for that of an ultra-modern cultural center or designer shopping mall. Incidentally, the Faena District also possesses both of those things.

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Adriana Cisneros sitting at a desk smilingclose icon
Global Citizens
Adriana Cisneros
ADRIANA CISNEROS

“I think it’s something like less than one third of family businesses that make it from the first to the second generation and half of those don’t make it to the third generation,” says Adriana Cisneros. “I’m the third generation in our business, so I really hope I’m going to be one of those that survives. Who knows, I might completely mess up, but hopefully not.” Messing up seems a rather unlikely prospect going by Adriana’s record to date. The company is in robust health under her leadership. She has recently returned from a whistle-stop tour of Central and South America, where Cisneros Interactive has become the sole reseller of Facebook in nine countries, the only nations on earth where the social media giant will not manage its own sales.

Facebook chose to work through Cisneros Interactive because it already has the region’s most advanced advertising network. “I started Cisneros Interactive, our digital division four years ago,” says Adriana. “Our aim from the outset has been to create the largest advertising network in Latin America and also the smartest. When we began, others were trying to do similar things, but in a very country-specific way. No one really dared to do it pan-regionally. I used the same architecture to build the business that my father did when he brought satellite television to Latin America three decades ago.”

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Sid brown headshotclose icon
Global Citizens
The Brown family & NFI: Keeping North America running
SID BROWN

I went to Georgetown University, where I majored in finance. After graduation, I went to New York, where I worked for two years in investment banking at Morgan Stanley, before attending Harvard Business School. At that point, I had to decide if I wanted to go back into investment banking or return to the family business. It was 1983 and NFI was primarily a trucking business with very small warehousing, real estate, and truck leasing components.

I’m not completely sure exactly what I was thinking at the time, but I probably felt a certain obligation to join the family business. I’d kind of grown up within NFI. From junior high school onwards, I’d always helped out at the company during summer vacations. I’d worked in the maintenance shop and as a loader in the warehouse. We had always discussed business around the family table as far back as I can remember. So I guess you could say it was in my blood.

When I entered the business, I also had two brothers and a sister working alongside me. So I not only had to figure out how to work with my father, but also with my siblings too. As we were coming up through the ranks, our father wisely refused to appoint any of us as his successor. ‘If I pick one of you,’ he said to us, ‘the others will always resent me and our relationship will suffer.’ Instead, he told us to work it out among ourselves, after which he would sell the business to us.

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Global Citizens
Fighting an asymmetric war
MOHAMED AMERSI

Problem-solving and progress-making are second nature to Mohamed Amersi. For many years, he worked as a lawyer for two of the world’s leading firms, focusing upon highly complex equity-related deals. He subsequently set up his own advisory and investment firm specializing in technology, media, and telecoms. In 2015, he and his family created the Amersi Foundation, which particularly supports causes relating to education, poverty, conflict, and social cohesion.

The pandemic has definitely felt like a war at times. But it’s an unusual, asymmetric kind of war. The enemy we’re fighting is one that we can’t see or touch. It doesn’t deploy tanks, fire bullets or have a nuclear arsenal. But it does have hidden bases in pretty much every single part of the Earth. And our current weaponry is unable to defeat this enemy – an enemy that is only interested in killing us.

Like most people, I have had to learn a lot very quickly about COVID-19. I had no in-depth understanding of what ‘triaging,’ ‘social distancing,’ and ‘self-isolation’ were all about. We’ve all learned a completely new lexicon, a new way of living and have a new way of thinking about things. It’s a strange paradox, but we’ve had to stay apart in order to come together against this pandemic.

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